No question about it, Nevada was one of the state's most impacted by the recession. However, there are some signs businesses are beginning to make a comeback.
I talked with the President and CEO of Nevada's Center for Entrepreneurship and Technology, David Archer on my weekend show Face the State.
NCET is a local non-profit that helps small business owners get started and grow.
Archer said because of California's high taxes and strict regulations, businesses are constantly moving to Northern Nevada, more notably, those from the high-tech world.
"We're seeing more and more diversification. With the software sector we are seeing more biotech and aerospace. We are starting to see more sectors develop. Up until now, we have been too heavily focused on gaming."
Archer said more high-tech businesses does two things for Nevada. Of course, it creates jobs and diversifies our economy, which is in dire need of just that.
There is a concern among businesses, though.
Archer said 95% of businesses in Northern Nevada have fewer than 20employees and the majority of them are holding back on hiring and investing because of the fiscal cliff.
"The biggest challenge is not whether the taxes are going to get better or worse, it's the uncertainty. That's the thing that really stops businesses from making decisions. It's the uncertainty about tax rates, health care and things like that. We need to have closure and we need to have some decisions."
To watch the entire interview, tune into Face the State on Channel 2 this Saturday at 4:30am or 3pm. It also airs Sunday at 6:30am.
Sunday, May 19 2013 1:17 AM EDT2013-05-19 05:17:58 GMT
Trailing 5-1 the University of Nevada baseball team scored three runs in the top of the seventh inning to close within a run but was unable to complete the comeback falling 6-4 at Fresno State in theMore >>
Sunday, May 19 2013 12:24 AM EDT2013-05-19 04:24:52 GMT
RHP Randall Delgado had his best outing of the season for Reno, as the Aces secured their first series victory, in a 5-1 win over the Albuquerque Isotopes at Isotopes Park on Saturday night. DelgadoMore >>